Matrak raises AUD 2.9M in a series A round of investment to launch first international office in China

 
Melbourne, 26 April 2024: Matrak the Melbourne based construction start-up with over 400 construction projects on their network, today announced it has closed a Series A fundraise of AUD 2.9M, led by G&M Capital alongside Sydney VC Our Innovation Fund, former-Aconex chairman Simon Yencken and others. With the latest capital boost and a fortified balance sheet, Matrak is also thrilled to announce the opening of Matrak China. This collaboration with G&M Capital marks a pivotal step in Matrak’s mission to revolutionise construction supply-chains worldwide.

Launched in 2018, Matrak is transforming global construction supply-chains, through connected materials tracking. Companies as diverse as manufacturers, suppliers and builders use Matrak to streamline and de-risk their supply-chains, leading to cheaper and more reliable construction. The growing construction company already works with over 280 clients on their network.

Lim Gu, Founder of G&M Capital, reflects on this partnership, “We are focused on the smart construction sector and are always on the lookout for innovative, rising start-ups like Matrak. We are therefore excited to strengthen our legacy of international collaboration by investing in Matrak’s China office. In order to support local clients’ as they reach out to the global market. Furthermore, partnering with Matrak underscores our investment commitment to enhancing transparency and trust in global manufacturing supply chains and our support for global innovative start-ups.”

Shane Hodgkins, Co -founder and CEO said: “We’re thrilled to have G&M and our existing investors support our international expansion. Construction is global, and building our team closer to our major manufacturing customers will de-risk critical supply-chains, and unlock more sustainable procurement worldwide.”

“Receiving overseas funding was made easier through participating in the Austrade Landing Pads program, where we were connected with G&M Capital. Austrade continues to play a pivotal role in enabling Australian startups to be successful in China and they particularly support start-ups who promote sustainability, like Matrak.”

Emily Ma, Shanghai Landing Pad Manager at Australian Trade & Investment Commission said, “Austrade Landing Pads Program is a platform enabling Australian scale-ups to explore opportunities in international markets, it supports Australian businesses by offering market entry insights, introduction to local networks and brand building. As the Landing Pad Manager in Shanghai, I worked closely with Brett and Shane throughout the program to facilitate their entry into the Chinese market. I am deeply impressed by the two founders, for their resilience, vision, and willingness to embrace new markets. These fundamental qualities have undoubtedly contributed to their success, traits I believe resonate strongly with investors as well.”

Matrak is transforming global construction supply-chains, through connected materials tracking. Companies as diverse as manufacturers, suppliers and builders use Matrak to streamline and de-risk their supply-chains, leading to cheaper and more reliable construction.

Matrak was founded in 2018 by Shane and Brett Hodgkins. The concept was born on a construction site, when Brett was working for his father’s window installation company part-time while he finished up his master’s degree in computer science. 

Matrak has over 400 construction projects on their network and has tracked over 1.2M materials for their customers. Their work includes Queen’s Wharf, Melbourne’s 65-storey Aspire, Victorian Heart Hospital, Cross River Rail, Mater Hospital, as well as schools, commercial, aged care facilities and data centres. 

Companies on Matrak’s network include Built, Multiplex, Lendlease, John Holland, Hutchinson Builders, Hickory, Grace Brothers, Gammon Construction, Star Entertainment, Toll, BlueScope, SRG Global, Winning Appliances, Reece, Toga, Crema, Oulin, Yuanda, Richard Crookes, Roberts Co, Worldwide Logistics, Ramler, CPB Contractors, Buildcorp, BLOC, and hundreds of others around the world.